Well-known analyst Will Clemente Pointing to the current state of Bitcoin (BTC), he made a prediction that the rise has just begun.
Will Clemente, who has more than half a million followers on social media, drew attention with his statement about Bitcoin. a recent in your post “We are just at the beginning”, the analyst said, for Bitcoin entry to bull season He indicated on the chart that we are in the phase of
“Market Value to Realized Value” (which is obtained by calculating the difference between the intrinsic value of a cryptocurrency and its market price).MVRV Z) analyst using data implied it’s cheap yet.
On-chain analytics firm glassnode Clemente, citing data presented by long-term investors (LTH) marked a breaking point. According to the chart shared by Clement, historically, Bitcoin rises when the MVRV Z value of long-term investors rises above “1”.
It was also noteworthy that the marked points in the chart shared by the analyst coincided with the end of the previous bear seasons. Presenting a similar picture in the days we live in, LTH-MVRV data are not yet available according to the analyst’s interpretation. a new bull season means.
In the last 1 week according to CoinGecko data 1.5% rise exhibiting Bitcoin, at the time of writing from $31,050 is being traded.
